West Tower Group LLC Invests $204,000 in Palantir Technologies Inc. $PLTR

Key Points

• West Tower Group LLC has invested approximately $204,000 in Palantir Technologies, purchasing 1,500 shares of the company's stock.
• Insider transactions indicate significant selling activity, with insiders selling over 1.5 million shares of Palantir stock valued at approximately $239.7 million in the last three months.
• Palantir Technologies reported a 48% year-over-year increase in quarterly revenue, achieving $1 billion, along with an earnings per share (EPS) of $0.16, surpassing estimates.

West Tower Group LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the company's stock, valued at approximately $204,000.

A number of other large investors have also recently made changes to their positions in the stock. Ignite Planners LLC grew its position in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after buying an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. grew its position in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after buying an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. grew its position in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after buying an additional 73 shares during the period. Boomfish Wealth Group LLC grew its position in Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after buying an additional 73 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its position in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after buying an additional 80 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,557,750 shares of company stock valued at $239,713,896. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR stock opened at $178.15 on Monday. Palantir Technologies Inc. has a one year low of $40.90 and a one year high of $190.00. The company's fifty day moving average price is $171.52 and its 200-day moving average price is $143.67. The company has a market capitalization of $422.63 billion, a PE ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company's quarterly revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLTR shares. Bank of America boosted their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Citigroup reiterated a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Wedbush set a $200.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $141.28.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.